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On Thursday, Jeffrey Gundlach gave his first presentation of 2012. The bond legend reviewed 2011 and laid out his expectations for 2011.During the Q&A, someone asked Gundlach for his most controversial call.
Gundlach’s answer: being invested only in dollar-denominated assets.
This is a position he has had for a long time. The primary reason, he notes, is to avoid currency volatility.
He has recommended in the past that this is especially important when investing in the emerging markets.
Nowhere was this call more prescient than in the Indian markets. He provided this chart of the Indian rupee.
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